Bernanke’s Got Good News: Looks Like We Didn’t Scar The Economy For Life

Mr. Bernanke said the U.S. recovery, now more than two-and-a-half years old, continues to be "modest." He conceded the pace of growth has been slower than what the Fed expected. But he was more optimistic about the long run, saying the economy hasn't been permanently scarred by the financial crisis. "Although important problems certainly exist, the growth fundamentals of the United States do not appear to have been permanently altered by the shocks of the past four years," the Fed chief told the gathering, which this year focuses on long-term growth prospects for the global economy. [WSJ]